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Fannie Mae: SVC-2016-09: Servicing Guide Updates

Investor Update
October 19, 2016

Looking for more certainty and simplicity? Find out how to get it at MBA Annual 2016

Certainty — you need it to operate your business confidently. Simplicity — you need it to operate your business efficiently. If you want more of both, we can help! Visit us in the center of THE HUB at the MBA’s Annual Convention & Expo 2016 on October 23-26 in Boston. We’ll tell you all about our exciting new plans and solutions that will make your process simple and certain — and give you more freedom.

There’s more!
Our MBA Annual speakers are excited to talk to you about the tools you need to make it happen. We just added two new speakers to the lineup:

  • Tim Mayopoulos, President and Chief Executive Officer (CEO), A Conversation with GSE Leadership. (Monday, October 24, 11 a.m.-12:30 p.m., Second Level Auditorium)
  • Malloy Evans, Vice President, Single-Family Servicing and Making Home Affordable (MHA), #MOVEFORWARD: One-Mod, Life after HAMP. (Tuesday, October 25, 1:30 p.m.-2:30 p.m., Third Level, Ballroom C)
  • Jonathan Lawless, Vice President-Single-Family Product Development and Affordable Housing, Rebuilding the Affordable Lending Ecosystem. (Wednesday, October 26, 9 a.m.-10:30 a.m., Third Level, Ballroom A)
  • NEW! Drop by THE SIDE STAGE to hear Quick Tips: Fannie Mae HomeReady®. Jonathan Lawless will fill you in on how you can help more potential homebuyers with HomeReady. And you’ll hear about the value of homebuyer education from Framework® representatives. (Tuesday, October 25, 11:10 a.m.-11:25 a.m., Plaza Level, Exhibit Hall A)
  • NEW! Learn about opportunities in the up-front credit risk transfer market from Rob Schaefer, Vice President Credit Enhancement Strategy & Management, during #MOVEFORWARD: Credit Risk Transfer Today and Tomorrow. (Monday,
    October 24, 2 p.m.-3 p.m., Third Level, Ballroom C)

Tell us what you think.
We can’t wait to see you. In the meantime, tell us what you want freedom to look like in your loan process on Twitter @FannieMae, and follow our #MBAAnnual16 updates.
 
Announcement SVC-2016-09: Servicing Guide Updates

The Servicing Guide has been updated to include changes related to the following:

  • Remitting Duplicate MI Premium Refunds
  • Protecting Property Interest After Foreclosure Sale
  • Clarification of Non-Recoverable Expenses Related to Reinstatements and Payoffs
  • Promissory Note (Form 190) Updates
  • Servicing eMortgages

Read the Announcement for full details.

For a summary of key updates in this Servicing Guide Announcement, view the video presented by Bill Cleary, Vice President of Single-Family Servicing Policy & Solutions, or check out the Guide Update Presentation here. 

Access the STAR Performance Scorecard Report in Fannie Mae Connect

On October 3, the STAR Performance Scorecard Report was migrated from the Servicing Management Portal to Fannie Mae Connect. The report will be available in the Servicing Management Portal through November, but after November 30, can be accessed exclusively in Fannie Mae Connect. The transition of reports is part of a larger effort to centralize reporting, and to retire the Service Management Portal on November 30. Please contact your Customer Delivery Team or STAR Team with questions, review the available resources at the Fannie Mae Connect web page, and visit the STAR web page.  

Looking for information on working with Bank of NY Mellon?

A new tip sheet provides important guidance for lenders when working with Fannie Mae’s designated document custodian, Bank of New York Mellon (BNYM). Learn about how to get started with BNYM, guidance on using their WebDCS system, requests for exception clearing activities, how to avoid special processing of loans, and much more. 

One HFI InDepth class remaining for 2016

Do you have new hires or other employees who need to complete development goals by the end of the year? There is one more HFI™ Investor Reporting-related session left in 2016 and it’s not too late to register!

Fannie Mae’s Housing Finance Institute® series, HFI InDepth, offers training in custodial accounting and reconciling actual/actual loans. If you’re involved with investor reporting for your company, register for the last HFI InDepth class for 2016 today:

The ABCs of Managing MBS Cash Flow for Fannie Mae

You’ll learn tips for reporting on your loans and have access to an expert instructor to answer your questions.

All HFI InDepth courses provide:

  • two hours of interactive, instructor-led training held in a virtual classroom,
  • limited class sizes that maximize interaction and allow for individualized attention,
  • access to recorded tutorials that prepare you with foundational knowledge prior to taking the course, and
  • a certificate of completion.

Course details and class schedules are available on the Fannie Mae Training page. Sign up today!

You may also be interested in…

Focus on customers drives best-practice performance
Servicers are working with Fannie Mae to improve how they operate. Read more

4 reasons the mortgage business may stay brisk this fall
With the fall real estate season upon us, evidence suggests the mortgage business could keep busy to close out 2016. Read more

Receive regular content updates by registering at the sites.
 
We want to know your thoughts

Do you read The Home Story or the Housing Industry Forum, Fannie Mae’s sources for news about housing and the housing finance industry? If so, we would like your feedback to make sure we are giving you all the news you need. All responses are completely confidential. Please click here to take a five-minute survey.
 
Recent tweets

New research: Owner-occupied starter homes down by 1M since onset of housing bust — but renter-occupied up by 2M:
http://bit.ly/2e56ZZv

October 18
 
Decent – but not great – economic growth expected in second half of 2016. Oct. Econ. + Housing Outlook:
http://bit.ly/2e4lkpf

October 18

Source: Fannie Mae

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CEO

Alan Jaffa

Alan Jaffa is the Chief Executive Officer for Safeguard Properties, steering the company as the mortgage field services industry leader. He also serves on the board of advisors for SCG Partners, a middle-market private equity fund focused on diversifying and expanding Safeguard Properties’ business model into complimentary markets.

Alan joined Safeguard in 1995, learning the business from the ground up. He was promoted to Chief Operating Officer in 2002, and was named CEO in May 2010. His hands-on experience has given him unique insights as a leader to innovate, improve and strengthen Safeguard’s processes to assure that the company adheres to the highest standards of quality and customer service.

Under Alan’s leadership, Safeguard has grown significantly with strategies that have included new and expanded services, technology investments that deliver higher quality and greater efficiency to clients, and strategic acquisitions. He takes a team approach to process improvement, involving staff at all levels of the organization to address issues, brainstorm solutions, and identify new and better ways to serve clients.

In 2008, Alan was recognized by Crain’s Cleveland Business in its annual “40-Under-40” profile of young leaders. He also was named a NEO Ernst & Young Entrepreneur Of The Year® Award finalist in 2013.

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Esq., General Counsel and EVP

Linda Erkkila

Linda Erkkila is the General Counsel and Executive Vice President for Safeguard Properties, with oversight of legal, human resources, training, and compliance. Linda’s broad scope of oversight covers regulatory issues that impact Safeguard’s operations, risk mitigation, strategic planning, human resources and training initiatives, compliance, insurance, litigation and claims management, and counsel related to mergers, acquisition and joint ventures.

Linda assures that Safeguard’s strategic initiatives align with its resources, leverage opportunities across the company, and contemplate compliance mandates. She has practiced law for 25 years and her experience, both as outside and in-house counsel, covers a wide range of corporate matters, including regulatory disclosure, corporate governance compliance, risk assessment, compensation and benefits, litigation management, and mergers and acquisitions.

Linda earned her JD at Cleveland-Marshall College of Law. She holds a degree in economics from Miami University and an MBA. Linda was previously named as both a “Woman of Influence” by HousingWire and as a “Leading Lady” by MReport.

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COO

Michael Greenbaum

Michael Greenbaum is the Chief Operating Officer of Safeguard Properties, where he has played a pivotal role since joining the company in July 2010. Initially brought on as Vice President of REO, Mike’s exceptional leadership and strategic vision quickly propelled him to Vice President of Operations in 2013, and ultimately to COO in 2015. Over his 14-year tenure at Safeguard, Mike has been instrumental in driving change and fostering innovation within the Property Preservation sector, consistently delivering excellence and becoming a trusted partner to clients and investors.

A distinguished graduate of the United States Military Academy at West Point, Mike earned a degree in Quantitative Economics. Following his graduation, he served in the U.S. Army’s Ordnance Branch, where he specialized in supply chain management. Before his tenure at Safeguard, Mike honed his expertise by managing global supply chains for 13 years, leveraging his military and civilian experience to lead with precision and efficacy.

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CFO

Joe Iafigliola

Joe Iafigliola is the Chief Financial Officer for Safeguard Properties. Joe is responsible for the Control, Quality Assurance, Business Development, Marketing, Accounting, and Information Security departments. At the core of his responsibilities is the drive to ensure that Safeguard’s focus remains rooted in Customer Service = Resolution. Through his executive leadership role, he actively supports SGPNOW.com, an on-demand service geared towards real estate and property management professionals as well as individual home owners in need of inspection and property preservation services. Joe is also an integral force behind Compliance Connections, a branch of Safeguard Properties that allows code enforcement professionals to report violations at properties that can then be addressed by the Safeguard vendor network. Compliance Connections also researches and shares vacant property ordinance information with Safeguard clients.

Joe has an MBA from The Weatherhead School of Management at Case Western Reserve University, is a Certified Management Accountant (CMA), and holds a bachelor’s degree from The Ohio State University’s Honors Accounting program.

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Business Development

Carrie Tackett

Business Development Safeguard Properties